Invoicing Local & Foreign Currency Transactions Newsletter
11 September 2020
The Minister of Finance and Economic Development issued Statutory Instrument 185 of 2020 as the Exchange Control (Exclusive Use of Zimbabwe Dollar for Domestic Transactions) (Amendment) Regulations, 2020 (No. 3) on 24 July 2020 which compels sellers of various goods and services to display, quote and offer prices in both the Zimbabwean Dollar and foreign currency at the ruling exchange rate (i.e. last established auction rate).
Following SI 105 of 2020 of the Exchange Control, The Zimbabwe Revenue Authority issued Public Notice 40 of 2020, instructing traders to issue customers with documents recording sales (Invoices, Tax Invoices, Till Slips, Receipts or other documents recording sales) in the currency of sale.